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Elliott Wave International
Traders & Investors Club Meeting - 19th July 2011
What an exciting month it's been so far.
We began with the stock market putting in a sterling run up on the news that an insolvent country with debts that can never be repaid, whose Government gives a nod and a wink to widespread tax-avoidance and endemic corruption is going to be lent more money. Fakelaki all round. Yiamas!
On the other side of the pond, the spectre of the Federal Reserve's Quantitative Easing Frankenstein monster stirred once more, threatening to terrorise the village yet again when Ben Bernanke hinted at "additional policy support" giving markets the hint of an impending round of QE3. Stocks rallied sharply and put the US Dollar back on the ropes. However, later in the week, the good doctor (Bernanke, not Frankenstein) took the wind out of the market's sails by declaring that the Fed is "not prepared at this point to take further action" after all which sent stocks back south from whence they came.
Lest you might be tempted to be seduced by the thought that all is really rosy in the garden and we are simply going through a little local difficulty, take a look at the charts here:
http://www.tradersandinvestorsclub.co.uk/article/sp500-priced-gold
Here you can see how the stock market booms of the last decade have been fueled by artificially low interest rates, reckless lending and rampant speculation fueled by cheap or free money.
Can this illusion of wealth be sustained? Or has the King really got no clothes?
Here is a summary of the agenda:
Market Roundup And Open Forum
Kevin Barry of the Traders & Investors Club remains bearish on both the stock market and the commodities sector, with the exception of metals which are staging an impressive recovery.
He has been taken out of his gold and copper short positions and so is standing aside for the time being. He does, however, remain unfashionably bullish on the US Dollar.
This evening, Kevin will be discussing his market positions for the month ahead as well as presenting our regular summary of the recent global market action and throwing the floor open for YOUR take on the current trading environment.
The Path Towards Professional Trading & The Trading Plan Of A Hedge Fund Manager
It is our great pleasure to welcome Alex Spiroglou of ODIN Capital Management to the Traders & Investors Club this evening.
Alex is a Cross Asset Prop Trader at ODIN, which is a Global Macro Hedge Fund. He is also the Founding Chairman of the London chapter of the Market Technicians Association, which is a global organization providing education and support for those interested in technical analysis.
Alex�s trading methodologies are based upon market structure, the Commitment Of Traders report, cross asset analysis, sentiment analysis and pattern recognition.
This evening, Alex will be discussing:
Trader competency strategies
Four steps needed to transition into full-time professional trading
Global Macro Technical Trading (combining the disciplines to create additional alpha)
Determining the best execution price points for your global macro directional ideas!
Don't miss this opportunity to join a top technical analyst and professional trader revealing his intermarket strategies based upon over ten years of research and system development.
Alex Spiroglou - The Path Towards Professional Trading
Alex’s trading methodologies are based upon market structure, the Commitment Of Traders report, cross asset analysis, sentiment analysis and pattern recognition.
In this presentation, Alex discusses:
Trader competency strategies
Four steps needed to transition into full-time profess
Tags: Kevin Barry - Market Roundup July 2011
We began the month with the stock market putting in a sterling run up on the news that an insolvent country with debts that can never be repaid, whose Government gives a nod and a wink to widespread tax-avoidance and endemic corruption is going to be lent more money. Fakelaki all round.
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